INSEAD Day 4 - 728x90

Tabreed H1 revenue $308m

Blurb: Profit reaches $52 million in H1

ADNOC L&S to expand fleet

It will acquire 11 carriers for $1.3bn.

Empower profit climbs 16%

Dubai district cooling demand lifts earnings

Burjeel profit nearly doubles

Healthcare demand drives stronger earnings.

Salik profit slips in H1

The company said traffic recovery supported resilience.

A royal decree dissolves Kuwait parliament as political wrangling persists

The deadlocks have prevented lawmakers from passing reforms to diversify the economy.
  • According to KUNA, the official news agency, a "royal decree was issued to dissolve the national assembly" elected in June of 2023
  • The royal decree came after ministers boycotted a parliamentary session on Wednesday, objecting to a speech delivered by a lawmaker

Kuwait City, Kuwait–Kuwait dissolved parliament on Thursday after a protracted stalemate between cabinet ministers and lawmakers dragged on despite the accession of a new emir in December.

The official KUNA news agency said a “royal decree was issued to dissolve the national assembly” elected last June following a proposal by the prime minister that was approved by cabinet.

The royal decree carried by KUNA accused parliament of constitutional violations, including using “offensive and inappropriate” language.

The announcement came after ministers boycotted a parliamentary session on Wednesday in objection to a speech delivered by one lawmaker.

The speech by Abdul Karim al-Kandari referred to criticism of the cabinet as well as parliament levelled by the country’s new emir Sheikh Meshal al-Ahmed al-Sabah.

Cabinet ministers interpreted the remarks as an insult to the emir, who demanded improvements from the country’s executive and legislative branches in his inaugural speech in December.

Kuwait suffers from constant standoffs between elected lawmakers and cabinets installed by the ruling Al-Sabah family, which maintains a tight grip on political life, despite a parliamentary system in place since 1962.

The deadlocks have prevented lawmakers from passing reforms to diversify the economy, while repeated budget deficits and low foreign investment have added to the air of gloom.

In his inaugural speech, the emir rebuked parliament and the cabinet for failing to fulfil their “national obligations”, while accusing them of harming the interests of the state and its people.